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3617 County Road 911 Joshua, TX 76058

3 Beds 2 Baths 1,456 sqft Built 2003

INVESTimate

$149,000

List Price

$1,340

$1,206 - $1,474

Rent Est.

$160,235  ( +7.54%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $102.34
  • 7 Days on Market
  • MLS # : 14416947
  • Updated Date : 08/20/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,456 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

Check out this cute 3 bedroom, 2 bathroom home! Located on a 1 acre lot in the desired Godley School District. Inside is an open floor plan, great for entertaining. The large kitchen features a breakfast bar, walk in pantry and open dining room. A full sized laundry room is conveniently located near the kitchen. The master bedroom has an en-suite complete with dual sinks, separate shower and garden tub. The secondary rooms are sized great for any age. Located within minutes of the Chisholm Trail Parkway makes for a quick commute to Ft. Worth. Don't miss your chance to view this home. Home will be retrofitted prior to sale.

SEE MORE

MARKET HIGHLIGHTS

  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)

PRICE & RENT TRENDS

Zip Code: 76058

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 76058

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Godley Elementary School Primary Regular 627 42 3
Godley Middle School Middle Regular 282 22 5
Godley High School High Regular 526 42 4

Godley Elementary School

  • Education Level: Primary
  • # of students: 627
  • # of teachers: 42
3
GreatSchools Rating

Godley Middle School

  • Education Level: Middle
  • # of students: 282
  • # of teachers: 22
5
GreatSchools Rating

Godley High School

  • Education Level: High
  • # of students: 526
  • # of teachers: 42
4
GreatSchools Rating
 

$134,100$163,900$149,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$550
Property Tax -$357
Property Insurance -$111
Property Management Fees -$99
CASH FLOW
$223

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$149,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.90%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.54%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$45,235

INVESTMENT

$45,235

Down Payment
$37,250
Rehab Estimate
$5,750
Closing Costs
$2,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$550

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $37,250
Loan Amount $111,750
See What Happens When You Reinvest Cash Flow

11.33

YEARS SAVED

$28,994

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,340

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,754

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,3402$1,7003$1,700
$1,700
RENT COMPS ANALYSIS
  • 3617 County Road 911 Joshua, TX 1
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.92
    •  
  • 6021 Berry Ridge Lane Joshua, TX 2
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 2019
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.13
    •  
  • 7045 County Road 1017 Joshua, TX 3
    • 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1998
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.28
    •  
PROPERTY LISTING DETAILS
Brannon Potts
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416947
Last Updated: 08/20/2020
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